• TRX rises nearly 27% in the last 24 hours as Justin Sun injects over $2b to support its native stablecoin USDD, overall TRX is down 26.9% for the week.
• CryptoAltum (a trading platform build by FX professionals) has added MATIC to its MT5 Trading platform.

• Again this week's highest volume transaction was Crypto-to-Stablecoins with a share of 26.09%, a minor decrease of 0.08% compared to last. With the levels of volatility we are seeing in the market, it is no surprise that investors continue to pile into cash.
• Second was Stablecoin to Crypto with a share of 23.01% increasing 1.05% from last week. At these levels long term investors will continue to dollar cost average, so it is no surprise that for the third consecutive week this volume has increased.
• Once again Stablecoin swap is in the top 3 transactions by volume with a share of 22.13%, an increase of 1.06% compared to last week.

Overall market technicals

BTC: Bearish momentum continues

• Last weekend, the support level we identified at $28,600 was broken as price retested the level before selling off aggressively, with the bearish momentum taking control. The mass sell off was triggered by the lending giant Celsius, as they spooked the entire market by freezing withdrawals on users assets.
• Since then BTC formed a weekly range with support at $20,250 and resistance at $22,850.
• We saw a midweek pump as the FED announced its biggest interest rate hike since 1994, increasing rates by 0.75%. Historically speaking, BTC has always seen extreme volatility during these meetings, with a short term rally to the upside.
• As of now, BTC is trading roughly at the middle of the range. With macro events continuing to unfold, there is a lot of uncertainty around the space. With no clear cut direction in sight, BTC remains range bound.
• On the other hand, if BTC fails to hold the current support at $31,250 we may potentially see a bearish retest with momentum shifting towards the downside.
• Once again the BTC fear & greed index still remains at ‘Extreme fear’ with a value of ‘9’ this is the lowest it has been all year.

• TRX was a coin of interest this week, as we saw an increase in convert portal volume of just over 12%
• Since mid-May, TRX was trading in somewhat of an uptrending channel. Looking back at it, this was a textbook example of an ascending triangle with a few price deviations at resistance ($0.086). Accompanied by a decrease in volume (volume divergence) all factors were pointing towards the downside.
• Following in BTC’s steps, the start of the week was accompanied by an extreme sell off for TRX as price dropped over 41%.
• Since then TRX has formed a range between $0.065 & $0.048. Once again TRX’s next move will be depicted by BTC as the market remains extremely volatile.